Belships

Major Shareholding Notification • May 22, 2020

Belships ASA - disclosure of large shareholding

Belships ASA - disclosure of large shareholding

Reference is made to the announcement by Belships ASA earlier today regarding

the share capital increase in connection with the acquisition of the Ultramax

bulk carrier named BELHAVEN.

Upon the share capital increase, the shareholding of Jakob Hatteland Holding AS

("Hatteland") has fallen below 5% of the total shares and votes of Belships ASA,

although the number of shares remains unaltered. Consequently, Hatteland's

shareholding of 11 000 000 shares in Belships ASA now equals 4,82% of the total

shares and votes of Belships ASA.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.